* Accreditation is a seal of approval: Accreditation from a recognized agency signifies that a university meets certain quality standards in terms of curriculum, faculty qualifications, and institutional resources. It's a crucial element of credibility.
* Employer recognition: Many employers use accreditation as a benchmark when considering job applicants. A diploma from a non-accredited institution might be viewed with skepticism, potentially limiting job opportunities for graduates.
* Transferability of credits: Credits earned at an accredited institution are generally more easily transferable to other accredited institutions. Credits from a non-accredited school might not be accepted.
* Government recognition and financial aid: Accreditation often affects eligibility for government-funded financial aid programs and licensing requirements for certain professions.
In short, while a diploma wouldn't become legally "invalid," its value and acceptance would dramatically decrease. It's akin to a counterfeit bill – it might look like the real thing, but its worth is significantly diminished. The impact would depend on the specific circumstances of the accreditation loss and the employer or institution reviewing the diploma.